BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It is defined as a financial term that means money held at a bank. Also is a transaction involving a transfer of money to another party for safekeeping.
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loan
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deposit
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principal amount
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amortization
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Explanation:
Detailed explanation-1: -A deposit is money held in a bank account or with another financial institution that requires a transfer from one party to another. A deposit can can also be the amount of money used as security or collateral for delivery of goods or services.
Detailed explanation-2: -Banks allow people to deposit their money as savings. These savings earn them a small interest when withdrawn. The deposits made can be withdrawn at any time. This is called demand deposit.
Detailed explanation-3: -A checking account is a highly liquid transaction account held at a financial institution that allows deposits and withdrawals.
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